Shares of Hormel Foods Corp (NYSE:HRL) ended Wednesday session in red amid volatile trading. The shares closed down -0.34 points or -0.89% at $37.78 with 2.30 million shares getting traded. Post opening the session at $38.15, the shares hit an intraday low of $37.73 and an intraday high of $38.38 and the price vacillated in this range throughout the day. The company has a market cap of $19.80 billion and the numbers of outstanding shares have been calculated to be 529.20 million shares.
Hormel Foods Corp (HRL) recently declared a donation of more than 60,000 pounds of products to assist with Hurricane Matthew relief efforts in the U.S. and Haiti. The donation of shelf-stable products such as SKIPPY® peanut butter, SPAM® products, Hormel® Compleats® microwave meals and Hearty Creations™ products will be distributed by Convoy of Hope in the U.S., and Food For The Poor in Haiti.
“We hope our donations will assist those in need during this difficult time,” said Wendy A. Watkins, vice president of corporate communications at Hormel Foods. “All of those affected by Hurricane Matthew are in our thoughts and prayers.”
“We are thankful for the generous support of Hormel Foods,” said Hal Donaldson, president of Convoy of Hope. “They have facilitated us to give hope to working poor families at our community events, in addition to disaster survivors following the Louisiana floods and Hurricane Matthew.”
Shares of Hanesbrands Inc. (NYSE:HBI) ended Wednesday session in red amid volatile trading. The shares closed down -0.78 points or -3.12% at $24.18 with 5.43 million shares getting traded. Post opening the session at $24.87, the shares hit an intraday low of $24.15 and an intraday high of $25.02 and the price vacillated in this range throughout the day. The company has a market cap of $8.88 billion and the numbers of outstanding shares have been calculated to be 377.95 million shares.
Hanesbrands Inc. (HBI) recently declared third-quarter growth for net sales, operating profit and diluted earnings per share consistent with company expectations. The company also delivered a record for cash flow in a quarter – $337 million.
With one quarter remaining in the fiscal year, Hanes updated its full-year 2016 guidance, which continues to call for record cash flow from operations, net sales growth in the high single digits, and double-digit growth for operating profit and EPS.
For the third quarter ended Oct. 1, 2016, net sales raised 11 percent to $1.76 billion, driven by core organic Innerwear growth and strong acquisition-related International growth. That growth was partially offset by declines in the Activewear and Direct to Consumer segments.